Quanta Services, Inc. (NYSE:PWR) Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,589 shares of the construction company’s stock after selling 106 shares during the quarter. Pitcairn Co.’s holdings in Quanta Services were worth $502,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Quanta Services by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,009,421 shares of the construction company’s stock worth $5,375,828,000 after buying an additional 161,277 shares during the period. State Street Corp raised its holdings in shares of Quanta Services by 1.6% in the 3rd quarter. State Street Corp now owns 5,748,637 shares of the construction company’s stock worth $1,713,956,000 after purchasing an additional 89,975 shares during the period. Geode Capital Management LLC lifted its stake in shares of Quanta Services by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,558,827 shares of the construction company’s stock valued at $1,121,830,000 after purchasing an additional 99,416 shares in the last quarter. Norges Bank purchased a new stake in shares of Quanta Services during the 4th quarter worth about $544,937,000. Finally, Bank of New York Mellon Corp increased its position in Quanta Services by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,024,510 shares of the construction company’s stock worth $323,797,000 after purchasing an additional 45,486 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR stock opened at $239.50 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a market capitalization of $35.49 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 1.41 and a beta of 1.04. Quanta Services, Inc. has a one year low of $227.11 and a one year high of $365.88. The company’s 50-day simple moving average is $273.15 and its 200-day simple moving average is $304.21.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 20th. The construction company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.62 by $0.12. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.61 billion. Quanta Services had a return on equity of 18.00% and a net margin of 3.82%. Equities analysts anticipate that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Thursday, April 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. Quanta Services’s payout ratio is currently 6.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PWR shares. B. Riley reiterated a “neutral” rating and set a $300.00 price objective (down from $343.00) on shares of Quanta Services in a research note on Wednesday, March 19th. BMO Capital Markets upgraded Quanta Services from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $338.00 to $316.00 in a report on Tuesday, February 25th. Stifel Nicolaus decreased their target price on Quanta Services from $388.00 to $323.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Daiwa Capital Markets downgraded Quanta Services from an “outperform” rating to a “neutral” rating in a report on Monday, February 24th. Finally, Roth Capital upgraded Quanta Services to a “strong-buy” rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $326.79.

Quanta Services Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.